LONDON: The latest global Environmental Tracking Carbon Rankings have been published, shining the spotlight on the standards of public greenhouse gas emissions reporting across the world and revealing Europe as a global leader in carbon disclosure.

The Environmental Tracking (ET) Global 800 Carbon Rankings order the 1,270 biggest companies in the world by their carbon intensity and emissions disclosure, and are complemented by four regional rankings: ET Asia Pacific 300, ET BRICS 300, ET Europe 300 and ET North America 300.

Europe showed the lowest greenhouse gas (GHG) intensity and is also leading the world in all disclosure metrics, with 53.3% of the the region's listed companies reporting complete data.

European countries individually outperformed the rest of the world too, as the Netherlands is the only country with 100% disclosure, followed by Italy with 88% and Germany with 84% disclosure.

Not quite as positively though, half of the global companies ranked did not report full emissions data, which emphasizes the GHG reporting challenge.

But this disappointment illuminates the accomplishments of Europe as well as leading companies like German chemical producer BASF, which managed to top both the European and global lists.

UK-based NGO the Environmental Investment Organisation (EIO) published the Rankings as part of their wider strategy, to tackle climate change by building a global market mechanism capable of influencing companies’ share prices.

These Rankings are especially significant now as we countdown to COP17 in Durban, which is also the cut-off point for ranked companies’ appeals.

Harini Manivannan, Senior Carbon Analyst, EIO, states: "In the event any company wishes to make new data publicly available during the Appeal Process, the full suite of Rankings will be restated to coincide with the first day of the COP17 climate negotiations in Durban".

Sam Gill, Operational Director, EIO, explains how the indexes will encourage transparency and GHG reductions: "The required emissions reductions and investment in low carbon technologies can be achieved by creating a system which influences share price according to the environmental costs of a company’s actions. This is precisely what Environmental Tracking seeks to do."